A business proposal is a written document describing how a business’s products/services can satisfy a particular client’s needs. Typically, it is a written offer from a business owner to a prospective sponsor. It is designed as a tool to persuade an audience to buy your product or service.

Generally, you would need a business proposal when you want to urge or persuade an audience to either buy your products/services, invest in your company, or partner with your business.

Why are business proposals important?

• It helps you in making realistic plans and projections earlier on when commencing your business. It pushes you to research the risks and challenges associated with your line of business and how you intend to reduce those risks and challenges in your own business.
• It can help you secure funding by attracting investors. The business proposal would demonstrate to potential investors that your business is worthwhile investing in.
• It provides your business with direction and structure. As you probably would have had an idea of the direction of your business before documenting the business proposal, putting it down on paper will help give you the necessary structure you need to continue in the right direction.

How do I write effective business proposals?

This section of this article practical steps to take to write effective business proposals that will close that deal with clients, customers, or prospective sponsors.

1. Start with a title page and a table of contents:

This title page is where you lay out the basic information about your business. Introduce yourself and your business. Also include the name of the individual or organization you are submitting it to. It should be aesthetically appealing and should also appear professional.

Your table of contents will show the reader what the business proposal will discuss. It helps the reader to know at a glance what the business proposal is all about.

2. Develop your executive summary:

Your executive summary, in a few paragraphs, explains why you are sending the proposal and why your solution is the best option for the prospective client. In your executive summary, you would need to be specific, highlighting the benefits your prospective clients stand to gain from your business’s products/services. It is a useful tool in putting out the heart and soul of the entire proposal into a few paragraphs.

3. State the problem/need and propose a solution:

Here, you would need to show the client that you clearly understand the problem they are facing and that they need help solving them. By this point, you would have done extensive research on the relevant issues facing the prospective client and how they can be solved. 

After demonstrating that you understand the problem, the next step is to propose your solution to the problem and convince your audience that your solution is the best solution to the problem. This may also include details of how your business will provide its products/services for them and how they will be made available.

4. Share your qualifications and include pricing options:

This is where you convince your audience why you are the best person to solve their problem and also why they should trust you. Do well to include your relevant qualifications and experience in the industry and business.

You need to also include the pricing options available for your product or service. Again, you would need to do some research before setting these prices so that you don’t appear too overpriced or underpriced to your prospective clients.

5. Conclude with your terms and conditions and spaces provided for signatures:

In your conclusion, you should briefly summarize your qualifications and experience and link them to how relevant it is in solving the problem of your prospective client.

Also include the terms and conditions guiding the deal to be sealed by the business proposal. It summarizes what you and your client agree upon signing the proposal.

Never forget to provide spaces for signatures. This would enable the business proposal to serve as a binding document between you and the client.

Conclusion

Having a well-written and developed business proposal is a very important factor in securing investors and business partners from far and wide.

SmartSMSSolutions is here to lend a helping hand to your business in maintaining this communication with your wide range of investors, clients, and customers through Bulk SMS. You can effectively reach all of them from the comfort of your home through Bulk SMS, with no stress at all. 

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If you enjoyed reading this article, kindly check out our other article on how to create an outstanding marketing plan for your business.